HomeMy WebLinkAbout6/12/2002 - Minutes Y /r
Minutes of
- Industrial Development Authority of RoanokeCounty
10:00 AM
June 12, 2002
MEMBERS PRESENT: GUESTS:
Steve Musselwhite, Vice-Chairman Paul Mahoney
Carole Brockman Rosemary T;russell
Neil Gallagher
Allan"Cap" Robinson MEMBERS ABSENT: '
Craig Sharp Bill Branch
Doug Chittum, Secretary-Treasurer Linwood Windley
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Vice-Chairman Steve Musselwhite usselwhite called the meeting to order a',110 a.m. in the
conference room of thee Roanoke County Administration Buildir g. Mr. Musselwhite
presented the minutes of the December 5, 2001 meeting and they were approved with a
unanimous voice vote. ri
New Business
A. Doug Chittum introduced and welcomed Allan"Cap"Robinson to the Board.
Members and guests introduced themselves.
B. The request to defer payment from the Greater Roanoke Talley Development
Foundation to Roanoke County for Valley Gateway Tract B Shell Building was
discussed in length by the Board. Doug Chittum gave background information to
the Board on the shell building at Valley Gateway-and,thle agreement entered into r
by the Greater Roanoke Valley Development Foundation; Fralin and Waldron,
and Roanoke County. F
A motion was made by Carole Brockman to defer payment of the note due the
Roanoke County IDA from the Greater.Roanoke Valley`Development Foundation
for 12 months subject to attorneys preparing a Loan Modification Agreement V
requiring the Foundation to present a marketing plan and'quarterly reports to the
IDA on the progress of selling the shell building, and provide a resolution as-to4p
what will happen at the end of this 12 month extension period. It was further
suggested that the Foundation consider the advantages.of listing the building with
a national commercial real estate firm rather than a local firm that has not
produced the desired results to date. Craig Sharp seconded and the motion was
passed by unanimous voice vote.
C. Board members were given handouts on the Technology Zone incentives as it
applies to the Center for Research and Technology. Doug Chittum gave the
Board an overview of the program and informed the Bo aid that the Technology
Zone issue along with other,Economic Development issues would be discussed in .
depth with the Board of Supervisors during a June`25, 2 ,02 work session. Doug
invited the Board members to attend this session and a reminder will be sent out
ti
to the members the week prior to the meeting.
D. An update on Novozymes was presented by Doug Chittum. He reported that the
public infrastructure was in place,the building.is under rof, and paving of the
new road was to start any day. Novozymes is,looking into getting approval from
the parent company to accelerate plans for,their manufacturing (Phase II)
expansion. >�
E. Information on current IDA land holdings was given to each Board member to be
included in their IDA books.
F. Doug reported feedback on the new Economic Development website,
www.yesroanoke.coim,has been very good. Jill Loope, Assistant Director of
Economic Development, is to be commended for overseeing this project.
Treasurer's Report
Rosemary Trussell presented the 2002-2003 budget to the Board. A motion to approve
this budget was made by Carole Brackman, seconded by.Craig Sharp, and approved with
a'unanimous voice vote.
The financial report was presented for the period ending 5/31/0 . Rosemary reported a
contract had been awarded to Robinson, Farmer, Cox to conduct the IDA audit for the
next three years in the amount of$1,500 per audit.
There being no further business, the meeting was adjourned at 111 :00 AM.
Respectfully Submm tted:
C.)
E. Douglas Chitturn
Secretary-Treasurer
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